Tempus AI is a company that develops AI-powered tools for reading health check data to help doctors make more accurate treatment decisions. The company entered the Nasdaq stock market for the first time last night under the ticker symbol TEM, with stock prices increasing by 9% from the IPO price, valuing the business at approximately $6.65 billion and raising an additional $410 million in capital.
In 2023, Tempus AI had a total revenue of $531.8 million but a net loss of $214.1 million. CEO Eric Lefkofsky mentioned that due to the company’s consistently high growth rate, they have been continually improving profit margins, leading to an expectation of positive cash flow and EBITDA in the coming year.
The name Eric Lefkofsky may ring a bell for some, as he is also a co-founder and former CEO of the well-known deal-selling website Groupon. The idea behind Tempus AI started after his wife was diagnosed with breast cancer, exposing the complexities of the treatment system.
Significant investors in Tempus AI include Google, investment firms Baillie Gifford, and Franklin Templeton.
TLDR: Tempus AI, a company specializing in AI health data analysis tools, made a successful debut on the Nasdaq stock market with positive growth expectations for the future. CEO Eric Lefkofsky’s personal experience with cancer drove the foundation of the company.
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